DAILY COMMODITY MARKET STRATEGY-8 Aug 2014

BASE METAL WRAP: Copper headed for a second weekly decline after imports by China, the biggest user of the metal, fell to the lowest since April 2013.

ENERGY WRAP: Brent and West Texas Intermediate crude climbed for a second day after U.S. President Barack Obama authorized air strikes in Iraq, the second-biggest oil producer in the Organization of Petroleum Exporting Countries.

PRECIOUS METAL WRAP: Gold advanced to the highest level in three weeks, poised to snap the longest run of weekly losses since September, as haven demand increased on unrest in the Middle East and tension over Ukraine.

GLOBAL EVENTS TO WATCH: Consumer Credit m/m, RBA Monetary Policy Statement, Trade Balance, Monetary Policy Statement, BOJ Press Conference, Employment Change, Unemployment Rate, Prelim Nonfarm Productivity q/q, Prelim Unit Labor Costs q/q, Wholesale Inventories m/m.

AGRI COMMODITY	BULLION COMMODITY
CS CHANA (SEPTEMBER)) OVERVIEW: TREND CONSOLIDATE SUP1:2890 SUP2:2845 RESIST1:2930 RESIST2:3010 TRADING STRATEGY: SELL ON RISE	CS COPPER (AUG) OVERVIEW: TREND CONSOLIDATE SUP1:427 SUP2:425 RESIST1:435 RESIST2:440 TRADING STRATEGY: SELL ON RISE
CS JEERA (SEPTEMBER) OVERVIEW: TREND CONSOLIDATE SUP1:11265 SUP2:11160 RESIST1:11320 RESIST2:11570 TRADING STRATEGY: SELL ON RISE	CS CRUDE (AUGUST) OVERVIEW: TREND CONSOLIDATE SUP1:5950 SUP2:5930 RESIST1:6085 RESIST2:6145 TRADING STRATEGY: SELL ON RISE
CS TURMERIC (SEPTEMBER) OVERVIEW: TREND BULLISH SUP1:6770 SUP2:6650 RESIST1:6980 RESIST2:7070 TRADING STRATEGY: BUY ON DIPS	CS GOLD (OCTOBER) OVERVIEW: TREND CONSOLIDATE SUP1:28700 SUP2:28530 RESIST1:29185 RESIST2:29260 TRADING STRATEGY: BUY ON DIPS
CS SOYABEAN (OCTOBER) OVERVIEW: TREND CONSOLIDATE SUP1:3500 SUP2:3480 RESIST1:3615 RESIST2:3700 TRADING STRATEGY: SELL ON RISE	CS SILVER (SEPTEMBER) OVERVIEW: TREND CONSOLIDATE SUP1:43600 SUP2:43200 RESIST1:44800 RESIST2:45800 TRADING STRATEGY: BUY ON DIPS

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